Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Enhancing Chiles Fiscal Framework
Download Enhancing Chiles Fiscal Framework full books in PDF, epub, and Kindle. Read online Enhancing Chiles Fiscal Framework ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Enhancing Chile’s Fiscal Framework by : Mr.Andrés Pérez
Download or read book Enhancing Chile’s Fiscal Framework written by Mr.Andrés Pérez and published by International Monetary Fund. This book was released on 2019-10-11 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: This booklet summarizes the presentations in the conference titled “Enhancing Chile’s Fiscal Framework: Lessons from Domestic and International Experience,” organized by Chile’s Ministry of Finance and the International Monetary Fund in January of 2019. The conference’s objective was to explore challenges and possible opportunities to improve Chile’s fiscal framework, including the fiscal rule, by looking at the Chilean and international experience. The conference had the valuable participation of current and former senior policymakers from Chile, including former Ministers of Finance ranging across the political spectrum and central bank presidents, which provided an insightful perspective in areas for improvement in the realm of fiscal policy. These views were complemented by representatives from the IMF and the Inter-American Development Bank, academics, and country officials from New Zealand and Peru, which provided lessons from the international experience.
Book Synopsis Strengthening Chile's Rule-Based Fiscal Framework by : Ms.Teresa Daban Sanchez
Download or read book Strengthening Chile's Rule-Based Fiscal Framework written by Ms.Teresa Daban Sanchez and published by International Monetary Fund. This book was released on 2011-01-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: The cornerstone of Chile’s impressive fiscal performance has been its structural balance rule. By insulating public spending from short-term copper price fluctuations and the business cycle, the rule has helped preserve fiscal discipline. However, the implementation of the rule in recent years has revealed certain challenges, and in May 2010, the government established a high-level commission to recommend reforms that could make the rule even more effective. This paper assesses the scope for improving the design and implementation of the structural balance rule in light of best practices and OECD country experience with fiscal rules. This assessment suggests several options to strengthen Chile’s fiscal rule, including by simplifying the calculation of the structural balance; enhancing the rule’s flexibility, transparency and accountability; and complementing it with a medium-term fiscal framework.
Book Synopsis Chile by : International Monetary Fund
Download or read book Chile written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-09-29 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: The cornerstone of Chile’s impressive fiscal performance and strong fiscal system has been its structural balance rule. It has helped to insulate public spending from copper price cycles and improve the government’s net financial position. Chile should adopt a full-fledged medium-term fiscal framework to improve fiscal planning and provide a framework for addressing temporary deviations from the fiscal rule. Publishing additional fiscal indicators in the budget, such as the non-copper structural balance, could provide more comprehensive information on the impact of fiscal policy on the domestic demand.
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781451807707 Total Pages :40 pages Book Rating :4.8/5 (77 download)
Book Synopsis Chile: Selected Issues by : International Monetary Fund
Download or read book Chile: Selected Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-09-09 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper for Chile assesses the impact of the global financial crisis on Chilean banks. It provides a framework for analyzing government measures aimed at reducing systemic risk. The analysis suggests that Chilean banks are resilient to global and regional shocks. However, even in the absence of direct exposures with other countries in the region, there may be risk spillovers from other banks in the region and in advanced economies. The paper also presents options for further strengthening Chile's fiscal framework.
Book Synopsis Chile: Fiscal Transparency Evaluation by : International Monetary
Download or read book Chile: Fiscal Transparency Evaluation written by International Monetary and published by International Monetary Fund. This book was released on 2021-11-11 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strong fiscal institutions have contributed to Chile’s macroeconomic stability, and recent reform initiatives have focused on enhancing these institutions and fiscal transparency. This report assesses fiscal transparency practices in Chile in relation to the requirements of the IMF’s Fiscal Transparency Code and confirms that many elements of sound fiscal transparency practices are already in place. Chile’s practices meet the principles of the code at a good or advanced level for 21 out of the 36 principles. This is a good score, compared to the average for Latin American Countries and Emerging Market Economies. On a further nine principles, Chile meets the basic standard of practice. Chile’s fiscal transparency practices are very strong for fiscal forecasting and budgeting, followed by fiscal reporting, while fiscal risk analysis and management demonstrate more mixed results. Further improvements could be achieved relatively easily through the publication of some internal analyses or through a more timely or user-friendly publication of already available information.
Download or read book Chile written by Guillermo Perry and published by World Bank Publications. This book was released on 1999-01-01 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The "Chilean model" has been expostulated for some time in the Latin American and Caribbean region and elsewhere because it appeared that the country, despite terrible political and economic turmoil, embodied important lessons about economic management." Over the last 15 years, Chile has been the Latin American country with the most consistent and successful economic record. The success of Chile's economic reforms and the subsequent dramatic increase in real income are well known. To a large extent, Chile's positive fiscal outcomes have been the result of sound policies as well as sound fiscal institutions. However, there is room for improvement in the education and health sectors, and the results for Chile in terms of equality of income are not positive. 'Chile: Recent Policy Lessons and Emerging Challenges' presents a series of papers analyzing different aspects of Chilean public policy, which cover economic and social policies as well as regulatory and governance issues. The book is broken down into three parts: The first part examines the contribution of macroeconomic policies to superior outcomes; the second part analyzes the many advances in the social sector and the remaining troublesome issues; and the third part evaluates regulatory reforms and the effects of privatization. Since no public policy model is static, further reforms are needed to maintain Chile's economic growth as well as to respond effectively to public demands. As Chile grapples with its pockets of poverty, the balance between social safety nets and the need for greater efficiency in labor markets, a rebalancing of regulatory powers, and other thorny issues, it will need to rely on its institutional experience in public policy and conflict resolution.
Book Synopsis Assessing the Macroeconomic Impact of Structural Reforms in Chile by : Metodij Hadzi-Vaskov
Download or read book Assessing the Macroeconomic Impact of Structural Reforms in Chile written by Metodij Hadzi-Vaskov and published by International Monetary Fund. This book was released on 2018-12-14 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the likely macroeconomic impact of various structural reforms that align the Chilean regulatory framework with international best practices. In this context, the analysis: i) presents a comparison across a large set of structural indicators; ii) identifies policy gaps with respect to OECD countries; and iii) provides quantification of the likely growth and fiscal impact of policy reforms needed to close the gaps. Chile’s economy is likely to benefit from streamlining business regulation and licensing, strengthening innovation and R&D capacity, improving labor market flexibility, and enhancing active labor market policies. Overall, the study presents a scenario in which Chile closes structural gaps with OECD’s 25th percentile over five years, with up to 6 percent higher output level and a cumulative net fiscal gain of about 1⁄2 percent of GDP.
Book Synopsis Chile by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Chile written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2019-09-24 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: This technical assistance report on Chile focuses on introducing and institutionalizing spending reviews (SR). The Chilean government has announced its commitment to achieving its fiscal target and containing expenditure growth. This report proposes a SR framework with targeted reviews conducted on an annual rolling basis, combined with a periodic comprehensive review at most once every four years. Both types of reviews include targets to identify savings options. Targeted reviews focus on a limited predefined review topic or area and on value for money and efficiency. Comprehensive reviews do not have any predefined review topics; they undertake an unconstrained search for the best saving options. The report sets out a four-stage process for conducting an SR, which would start in September and have final saving decisions made in April or May of the following year. The government will need to announce the topic for the first full targeted review to Congress in September 2019. This review will be conducted in late 2019 and early 2020; the results will be ready in April 2020 in time for incorporation into the process for the 2021 budget.
Book Synopsis Chile: Review Under the Flexible Credit Line Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Chile by : International Monetary
Download or read book Chile: Review Under the Flexible Credit Line Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Chile written by International Monetary and published by International Monetary Fund. This book was released on 2021-05-21 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The pandemic hit the Chilean economy while it was recovering from the 2019 social unrest. The authorities’ swift and strong economic policy efforts and Chile’s very strong institutional frameworks helped buffer the economic and social consequences. The ongoing economic recovery continues to be supported by ample policy stimulus, a rapid vaccination process, well-anchored inflation expectations, a resilient export base, and continued market confidence.
Book Synopsis Chile by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Chile written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2023-07-07 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s strong fiscal framework has served the country well. The fiscal rule has helped insulate the budgets from volatility in resource prices and economic activity. The sovereign wealth fund (SWF)—the Economic and Social Stabilization Fund (ESSF) and the Pension Reserve Fund (PRF)—was established to encourage savings over time and has provided buffers for stabilizing the economy. During the pandemic, Chile has appropriately used the ESSF to provide swift and impactful support to protect people. Recent efforts to upgrade the fiscal framework— adopt a medium-term fiscal path, formalize a prudent debt ceiling, and introduce an escape clause—can further safeguard fiscal sustainability.
Author :International Monetary Fund. Western Hemisphere Dept. Publisher :International Monetary Fund ISBN 13 :1484316487 Total Pages :54 pages Book Rating :4.4/5 (843 download)
Book Synopsis Chile by : International Monetary Fund. Western Hemisphere Dept.
Download or read book Chile written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2013-07-08 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper for Chile describes the postcrisis recovery experience. The recovery from the 2008–2009 global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor wedge-distortions related to the consumption leisure decision helped support the recovery. In Chile, the growth generated by this improvement, was sufficient to overcome the relatively weak performance of efficiency (TFP). Chile’s recovery has been characterized by strong investment growth, 0.8 percentage points higher than the precrisis trend. The establishment of the Financial Stability Council in 2011 is an important step to ensure close coordination among the institutions involved in Chile’s financial prudential framework.
Download or read book Chile written by International Monetary and published by International Monetary Fund. This book was released on 2023-01-20 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: After an impressive recovery from the COVID-19 pandemic, the Chilean economy is undergoing a necessary transition towards sustainable growth amid a challenging external environment. Policy implementation remains very strong, geared towards correcting macroeconomic imbalances that built up during the pandemic while protecting the most vulnerable and advancing structural reforms, consistent with past Fund Advice (Annex I). On August 29, the IMF Executive Board approved a two-year Flexible Credit Line (FCL) arrangement for Chile in the amount of SDR 13.954 billion (800 percent of quota) to augment precautionary buffers and provide substantial insurance against adverse scenarios.
Book Synopsis Chile by : International Monetary Fund
Download or read book Chile written by International Monetary Fund and published by International Monetary Fund. This book was released on 2011-08-24 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Book Synopsis Fiscal and Monetary Contraction in Chile by : Luis Servén
Download or read book Fiscal and Monetary Contraction in Chile written by Luis Servén and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: June 1995 To analyze the probable macroeconomic impact of fiscal and monetary retrenchment in Chile, an open-economy, dynamic rational-expectations macroeconomic model is applied to data for Chile. For the past two decades, Chile has consistently pursued a course of macroeconomic stabilization and deep economic reform. But in recent years, real exchange rate appreciation and persistent moderate inflation have become key concerns for Chilean policymakers, suggesting the need for further fiscal and monetary retrenchment. Using an open-economy, dynamic rational-expectations macroeconomic model applied to Chile, Schmidt-Hebbel and Serven analyze and quantify the macroeconomic impact of fiscal and monetary retrenchment. Several features of the model are essential for a realistic assessment of the effects of fiscal and monetary policy shifts in Chile: backward indexation of wages, consolidation of the central bank and the general government, and the coexistence of (1) liquidity-constrained consumers and firms with (2) unconstrained agents whose consumption and investment decisions reflect intertemporal optimization with perfect foresight. This framework makes it possible to distinguish meaningfully between permanent and transitory policy changes, as well as between changes that are or are not anticipated. Simulations show that a balanced-budget fiscal contraction leads to a modest real depreciation, which is sharper in the short term (especially if the contraction is temporary). At the same time, this type of fiscal retrenchment causes a temporary deterioration of the current account. An orthodox money-based disinflation implemented by halving the growth rate of base money leads to a sharp real appreciation in the near term, with steep output and employment costs in the short run, but it also causes a transitory improvement in the current account. This paper--a product of the Macroeconomics and Growth Division, Policy Research Department--is part of a larger effort in the department to model macroeconomic policy in developing countries.
Book Synopsis Assessing Chile's Pension System: Challenges and Reform Options by : Samuel Pienknagura
Download or read book Assessing Chile's Pension System: Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Author :Organization for Economic Cooperation and Development Publisher :Organization for Economic Co-Operation & Development ISBN 13 :9789264279032 Total Pages :0 pages Book Rating :4.2/5 (79 download)
Book Synopsis Making Decentralisation Work in Chile by : Organization for Economic Cooperation and Development
Download or read book Making Decentralisation Work in Chile written by Organization for Economic Cooperation and Development and published by Organization for Economic Co-Operation & Development. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report provides a comprehensive analysis of the challenges confronting Chile's centralised growth model and recommendations towards developing a more integrated territorial approach, capable of mobilising regional productivity catch-up potential in order to strengthen the role of regions and municipalities. The Chilean government has launched an ambitious decentralisation agenda, aimed at empowering municipalities by providing them with the legitimacy, financial resources, human capacities and tools required to improve their autonomy and performance. This study seeks to assist the government by covering several dimensions, looking at municipal responsibilities, fiscal and human resources, equalisation mechanisms, local public service performance, citizen participation, and co-ordination mechanisms across levels of government.
Book Synopsis A New Multilateralism for the 21st Century by : Ms.Christine Lagarde
Download or read book A New Multilateralism for the 21st Century written by Ms.Christine Lagarde and published by International Monetary Fund. This book was released on 2014-02-03 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter presents the content of the Richard Dimbleby lecture, which has been delivered by an influential business or a political figure every year since 1972. Christine Lagarde, Managing Director of the IMF, delivered the 2014 lecture at Guildhall in London on February 3. The 44 nations gathering at Bretton Woods have been determined to set a new course based on the principle that peace and prosperity flow from the font of cooperation. Fundamentally, the new multilateralism needs to instil a broader sense of social responsibility on the part of all players in the modern global economy. A renewed commitment to openness and to the mutual benefits of trade and foreign investment is requested. It also requires collective responsibility for managing an international monetary system that has travelled light-years since the old Bretton Woods system. The collective responsibility would translate into all monetary institutions cooperating closely mindful of the potential impact of their policies on others.
